home about categories posts news
discussions archive recommendations faq contacts

Power Finance Initiative: World Bank and AfDB Set $40 Billion Terms for Africa

January 17, 2025 - 15:44

Power Finance Initiative: World Bank and AfDB Set $40 Billion Terms for Africa

In 2019, electricity access in sub-Saharan Africa showcased a stark contrast, ranging from a mere 1% in South Sudan to an impressive 94% in South Africa. This disparity highlights the urgent need for investment and infrastructure development across the continent. In response to these challenges, the World Bank and the African Development Bank (AfDB) have announced a significant initiative aimed at enhancing power access in Africa.

The two institutions have outlined terms for a groundbreaking $40 billion financing package dedicated to energy projects throughout the region. This initiative seeks to address the critical energy deficits that hinder economic growth and development. The funds will be allocated to various projects, including renewable energy sources, grid expansion, and off-grid solutions, with a focus on sustainable and inclusive energy access.

By mobilizing these resources, the World Bank and AfDB aim to improve living conditions and stimulate economic activities, ultimately striving to achieve universal electricity access in Africa. This ambitious plan marks a pivotal step toward bridging the energy gap and fostering a brighter future for millions on the continent.


MORE NEWS

US Stock Market Takes a Nosedive Following Trump's Tariff Announcement

April 4, 2025 - 04:07

US Stock Market Takes a Nosedive Following Trump's Tariff Announcement

US stocks experienced a dramatic decline after President Trump revealed a baseline 10% tariff on all trading partners, causing significant turmoil in both domestic and global markets. The S&P 500...

India Evaluates the Effects of US Tariff Increases

April 3, 2025 - 13:57

India Evaluates the Effects of US Tariff Increases

India is currently assessing the implications of the recent tariff hike imposed by the United States. The Ministry of State for Finance has indicated that the government is closely monitoring the...

Trump Unveils 'Liberation Day' Tariffs Affecting Over 150 Nations

April 3, 2025 - 04:52

Trump Unveils 'Liberation Day' Tariffs Affecting Over 150 Nations

In a bold move, former President Donald Trump has announced a new set of tariffs dubbed `Liberation Day` tariffs, which will impact more than 150 countries. This initiative is part of his ongoing...

Leeds United Faces Significant Financial Setback with £60.8 Million Loss

April 2, 2025 - 20:35

Leeds United Faces Significant Financial Setback with £60.8 Million Loss

Leeds United has reported a staggering loss of £60.8 million for the 2023-24 season, marking a notable increase from the previous year`s loss of £33.7 million. This financial downturn raises...

read all news
home categories posts about news

Copyright © 2025 Credlx.com

Founded by: Knight Barrett

discussions archive recommendations faq contacts
terms of use privacy policy cookie policy